NASCAR declined to join the joint venture between 704Games and the Race Team Alliance that owns the eNASCAR Heat Pro League esports series, according to sources, but the sanctioning body remains involved in the effort.
The three entities jointly announced the new esports effort last December, and it was originally thought that NASCAR was an equal partner. The league is unique in that it represents the first time actual teams in the Monster Energy NASCAR Cup Series have jointly backed and gotten involved with an esports series, which the industry views as a way to drive growth.
But while NASCAR remains involved in the league as a licensing partner, sources told Sports Business Journal that the sanctioning body ultimately decided against becoming an ownership partner in the original joint venture.
NASCAR’s decision was made in part because it felt that its resources were already devoted to other initiatives, a source familiar with the matter said. The decision was made this past offseason, but had not been reported. At that time, NASCAR was preoccupied with structural changes that resulted in dozens of layoffs, among other time-consuming matters with teams. The series was also wary about becoming an equity partner in an esports league because it’s involved with a separate esports series, the eNASCAR Peak Antifreeze iRacing Series.
Still, sources emphasized that all parties were happy with the decision and did not view it as a negative development.
— eSports Observer —